A panel of food safety and allergy experts at three universities
unanimously reaffirmed last week that soy leghemoglobin, a protein from
the roots of soy plants, is generally recognized as safe, or “GRAS.” GRAS
means a food is safe to be consumed under US regulations.

This is the second time the expert panel has unanimously found that soy
leghemoglobin is safe. In 2014, the food safety and allergy experts at
the University of Nebraska, University of Wisconsin and Virginia
Commonwealth University found that soy leghemoglobin is GRAS.

The company has been complying with food safety regulations in the
United States since 2014. Impossible Foods began selling the Impossible
Burger in 2016.

The study examined whether consumption of soy leghemoglobin in amounts
orders of magnitude above normal dietary exposure would produce any
adverse effects. There were none. A comprehensive search of allergen
databases found that soy leghemoglobin has a very low potential for
allergenicity. In compliance with federal regulations, Impossible Foods
labels its product to reflect the potential allergens soy and wheat.

Later this month, Impossible Foods will voluntarily provide the results
of the rat feeding study and additional data to the U.S. Food and Drug
Administration. The FDA publishes such data online, where it is made
available for public viewing.

In addition to providing data to the FDA, Impossible Foods is in the
process of publishing scientific, peer-reviewed papers about its testing
and the safety of its food. The company also provides insight
about key ingredients online and in its FAQ
page.

“The No. 1 priority of Impossible Foods is the safety of our customers
-- and we believe that people want and deserve total transparency about
the food they eat,” said Impossible Foods CEO and Founder Dr. Patrick O.
Brown, M.D., Ph.D., a member of the National Academy of Sciences and the
National Academy of Medicine. Formerly a practicing pediatrician, and
for 25 years a professor of biochemistry at Stanford University, Dr.
Brown also co-founded Public
Library of Science, a nonprofit publisher with a mission to provide open
access to science, technology and medical journals.

Investors bullish about startup’s trajectory

Impossible Foods makes meat directly from plants -- with a much smaller
environmental footprint than meat from animals. The company uses modern
science and technology to create wholesome food, restore natural
ecosystems and feed a growing population sustainably.

The company’s flagship product, the Impossible Burger, uses about 75%
less water, generates about 87% fewer greenhouse gases and requires
around 95% less land than conventional ground beef from cows. It's
produced without hormones, antibiotics, cholesterol or artificial
flavors.

The Impossible Burger is sold in 43 restaurants nationwide, including
several burger chains. The Impossible Burger is often the No. 1 selling
burger in many restaurants where it’s sold, outselling burgers made from
cows.

Based on the company’s strong food safety results and impressive sales
at restaurants, Impossible Foods closed a $75 million investment last
week. The company plans to use the investment to accelerate future
product development and expand manufacturing capacity.

The lead investor in the round is Singapore-headquartered investment
company Temasek. Open Philanthropy Project, Bill Gates, Khosla Ventures
and Horizons Ventures also contributed to the round.

"Impossible Foods chose to opportunistically raise a note that converts
at a future valuation set by the Series E in 2018,” said Impossible
Foods’ Chief Operating Officer and Chief Financial Officer David Lee.
“We chose top-tier investors like Temasek who has the potential to lead
the future round and who believe in our long-term mission and business.
We are grateful that longtime insiders participated as well."

About Impossible Foods:

Based in Redwood City, California, Impossible Foods makes delicious,
nutritious meat and dairy products directly from plants -- with a much
smaller environmental footprint than those produced from animals. The
privately held company was founded in 2011 by Dr. Patrick O. Brown,
M.D., Ph.D., a member of the National Academy of Sciences and the
National Academy of Medicine, and formerly a pediatrician and
biochemistry professor and Howard Hughes Medical Institute investigator
at Stanford University. Investors include Temasek, Open Philanthropy
Project, Khosla Ventures, Bill Gates, Google Ventures, Horizons
Ventures, UBS and Viking Global Investors.

Relevant Topics

FoodFood is any substance consumed to provide nutritional support for the body. It is usually of plant or animal origin, and contains essential nutrients, such as carbohydrates, fats, proteins, vitamins, or minerals. The substance is ingested by an organism ...

AllergiesThe term allergy is used to describe a response, within the body, to a substance, which is not necessarily harmful in itself, but results in an immune response and a reaction that causes symptoms and disease in a predisposed person, which in turn can cau...